The technology boom brought with it fierce competition to attract and retain top talent. Forward-thinking companies are reimagining the compensation package by offering perks like a paid year of parental leave or a $2,000-per-year stipend to travel anywhere in the world.
As great as that is, these kinds of offerings are simply not feasible for most companies. But it doesn’t have to mean companies have to settle when it comes to recruiting. While nice-to-haves like extravagant perks are simply that — nice — let’s not forget about the need-to-haves, which sometimes get overlooked.
The most important factor for employees to be present and effective in the workplace is their health. Based on the below infographic from the CDC Foundation, productivity losses linked to absenteeism cost employers $1,685 per employee, per year. Presenteeism is costing employers, as well, accounting for nearly two-thirds of the total costs of worker illness.
Image: CDC Foundation
So before a company can think about the bells and whistles of the compensation package, it should strongly consider this: Are the employees taken care of in the most fundamental, and beneficial, way? Do they have the benefits to support their wellbeing so they can support the bottom line of their employer?
If your clients are asking themselves these questions and are ready to take the next step, CoPower can help.